The life of an entrepreneur can often be a challenging one, full of tough decision making and (for those starting out) unanswered questions. The truth is anybody can become an entrepreneur, but it takes hard work, determination, and a little craftiness to become a successful one.
In this post, we go over some personal tricks and hacks you can do to become more successful in your business.
Entrepreneurs Don’t Talk, They Execute
So many entrepreneurs come up with fantastic ideas, only to fail at the last hurdle due to a lack of decisive action. An idea on paper will never make any money if nobody acts on it or brings it to reality.
One of the biggest secrets of being an entrepreneur is that no product, invention, or service is ever 100% perfect. Even a company as large as Apple has had problems in the past, especially when Steve Jobs left the company. As he said himself, “You know, one of the things that really hurt Apple was after I left- John Sculley got a very serious disease. It’s the disease of thinking that a really great idea is 90 percent of the work.”
Did it destroy the company? Did it stop people buying their products? Absolutely not. When Jobs came back on the team, he realized that real ideas come from testing and trying. Have the confidence in your convictions and take whatever action is required to make things happen. Sometimes in life, the failures are when we learn the most.
Read our post on what investors look for in entrepreneurs. It may just give you an idea of the types of traits that you need to exhibit when talking to an investor.
Stay Focused On Your Goals
Focus on the key components of your business, perfecting them until they are working at optimum efficiency. Pay particular attention to the parts of your business which produce revenue. The point of a business is to generate profits. Prioritize those income-producing activities.
Whether your business is struggling or exceeding all expectations, keep calm and focus on the core business. Don’t invest in distractions like expensive software or chase down every lead. Focus on what separates your business from the rest of the competition, and deliver 100% on that key offering.
Work Smarter, Not Harder
You may be putting extra hours in when you don’t need to. Always try to look ahead in the marketplace, and analyze what things you can change to accelerate your business in the right direction.
Sometimes working smarter means being patient and analyzing industry trends instead of just reacting to them. Only a few short years ago, Blackberry was the undoubted king of the smartphone market. When the iPhone launched, Blackberry’s CEO didn’t initially react. When they finally did, they quickly created their Storm product, and it was a total failure because it was rushed to market. Only a few short years later, the Blackberry brand only accounts for about 1% of the cell phone market. This was the perfect demonstration of what happens when you react to market changes rather than leading the charge and watching others follow.
Other times, productivity is a matter of getting the most out your office or coworking space or environment. Instead of trying all these complex ways to gain more leads, try talking and networking with the people at your office space. You may learn that they have the answer to one of your challenges.
Enjoy And Embrace The Journey
Being an entrepreneur can be a real rollercoaster of a ride. It is unpredictable and full of highs and lows, but you must learn to embrace the lifestyle. Sometimes it means networking at an event, or having to deal with a customer complaint. One day you might have the greatest sales day ever, another day you might be in a rut. Instead of always being focused on getting to a certain destination or goal (which is still very important), learn to appreciate the moments in between, and the journey you’re taking to get to where you want. You won’t get to experience it twice.
Relax And Decompress
Problems in business always seem to come along at the same time. The inexperienced entrepreneur can easily allow themselves to become overwhelmed and make rash decisions in a panic. Those decisions can have a long-term damaging effect on the future of the business.
The same is equally true when a sudden spike in sales causes supply issues or similar problems. Rather than try to firefight and solve numerous problems poorly, take your time and resolve each problem properly one at a time. Very often in business the problems can all be interlinked, so by fixing one problem, it will actually go a long way to fixing another, and very quickly the entire list of issues is resolved. This approach will also have a positive effect on your mindset and confidence, as every time you complete another task or solve one more problem, you will feel a sense of empowerment and accomplishment. This article provides some excellent solutions that great leaders employ to deal with problems.
The opportunities for success know no bounds, and their only limitations are your desire and imagination. The entrepreneurial lifestyle is unlike any other; embrace the challenges and enjoy the rewards.
At Novel Coworking, we work together with entrepreneurs, providing them with the tools and locations to flourish and succeed. We regularly update our blog with new and innovative ideas to drive entrepreneurs to succeed. Visit regularly for new ideas and motivation as you follow your entrepreneurial dreams.